Thinking of hiring a financial or Medicaid planner? While you may be considering it, it can be difficult to know if the services are really needed or not. Here are some ways to know that you may need some assistance in your planning.

Long Term Planning for Healthy Couples

If you and your spouse are both healthy and wish to provide some of your assets for your children and grandchildren, then having a financial or Medicaid planner can be helpful. While it isn’t necessary planners might have some ideas that you didn’t consider. It is also possible that if you do make a mistake, it can impact your application to some programs for up to five years; requiring you to drain some of your resources. Preventing that can be a call to a planner away.

One Spouse Requires Care

While one spouse requires care, you still want to make sure that all of the resources are not consumed and that the healthy spouse retains the ability to provide for themselves. Performing things like a separation of resources can be very complicated and require the assistance of a financial or Medicaid planner.

Both Spouses Require Care

Long term care is expensive. Long term care for two can spell financial disaster very quickly. The burden can be place on adult children to come up with ways to finance or provide care. A planner can help alleviate that burden.

For assistance with Medicare planning contact Stano Law group today.